Veritas Warns of Q2 Revenue Shortfall

Storage management software maker's stock drops as CEO blames weak sales in the United States for revenue hit.

Shares of Veritas Software Corp. closed down 36 percent on Tuesday after the company said it expects revenue in the second quarter to come in lower than expected. Veritas Chief Executive Officer Gary Bloom blamed the results on weak sales in the United States. Revenue from software license orders was weaker than expected at the end of the June quarter, he said.
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